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Inside Washington (09/11/2009)
* WASHINGTON (9/14/09)--Government intervention in the financial crisis saved the economy, said Treasury Department officials Thursday at a hearing before the Troubled Asset Relief Program’s Congressional Oversight Panel (American Banker Sept. 11). Treasury Secretary Timothy Geithner said the programs that have been in place since the government bailed out the nation’s banks have stabilized the financial system. Many of the programs are winding down now, he added. Elizabeth Warren, the panel’s chair, said troubled assets are still a problem at small banks. The risk is unknown and unresolved, she said. Geithner also noted that he doesn’t want to give the impression the nation is not still facing economic challenges. However, he said the government would not repeat “classic errors” of economic policy.” His statements came after the Federal Deposit Insurance Corp. said it would end a program to guarantee bank debt Oct. 31. The Treasury’s guarantee program for money market mutual funds will end Friday ... * WASHINGTON (9/14/09)--The Federal Trade Commission has scheduled a two-day roundtable Sept. 29-30 to discuss consumer protection issues in litigation and arbitration proceedings to collect on consumer debt. The first day of discussion will cover the role of consumer choice, perceptions of bias, transparency of results, post-decision issues and future directions in arbitration of consumer debts. The second day will focus on consumer debt collection litigation proceedings ...


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